61.8% level

A popular place for a pullback to stop and turn, a little more than halfway back along the last big move.

The fuller meaning

The 61.8% Fibonacci retracement, taken from the golden ratio. After a clear swing, traders watch the 50% to 61.8% zone as possible support in an uptrend or resistance in a downtrend. It is a zone that needs a price signal, not a wall: price can slice straight through it.

61.8% level, also called 61.8%, golden ratio.

61.8% level

The fuller meaning

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